Monday, December 14, 2009

How Citigroup is repaying TARP

Citigroup said that it's going to pay back $20 Billion in TARP funds it received by selling more common stock ($17 Billion worth) and taking on more debt.

Hold it...isn't the debt part one of the reasons they got in the crapper to begin with?

So, to all of you who deal with Citigroup...watch out for more hidden fees, higher credit card interest rates (at least until the new law kicks in), and other shenanigans. In a financial system that's completely made up...making up more crazy stuff just fits the mold!


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